Chandrasekaran is expected to hire half a dozen investment bankers to assist him at Tata Sons, two of whom have been finalised. Tata Sons has hired Ankur Verma, a telecom dealmaker, from Bank of America, and Nipun Aggarwal, who specialises in metals & mining and energy, from Standard Chartered Bank.

After PSU banks, the government is likely to infuse capital in two chronically ill telecom PSUs BSNL and MTNL, and the Union Cabinet is likely to take a decision on 4G spectrum allocation to them by the third week of the current month after DoT places the note before it for consideration.

At a high-level meeting at the PMO late Tuesday, it was also decided that the two telcos will frame a Voluntary Retirement Scheme (VRS) to reduce their employee strength, which will be followed by a reduction in the retirement age to 58.